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Bitcoin sinks to lowest level since May, falling $3,000 in a month as China accelerates crackdown

Bitcoin sinks to lowest level since May, falling $3,000 in a month as China accelerates crackdown

What a tough month it has been for bitcoin. The world’s most popular cryptocurrency sank to $6,558.14 on Monday, its lowest level since May, according to industry site CoinDesk. It lost $3,000 in value in just a month as China accelerated a crackdown on businesses involved in cryptocurrency operations, a reversal from President Xi Jinping’s previous signal to be more open to the blockchain technology. The coin last traded at $7,150.79. Bitcoin jumped to above $10,000 briefly last month after Xi sang the praises of blockchain in a speech and called on his country to advance development in...

November 25, 2019
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Dow futures jump more than 100 points after blowout jobs report

Dow futures jump more than 100 points after blowout jobs report

Stock futures climbed in overnight trading on Sunday as investors cheered a strong bounce in U.S. job growth last month amid accelerating vaccine rollout.Futures on the Dow Jones Industrial Average jumped 136 points. S&P 500 futures rose 0.4% and Nasdaq 100 futures edged up 0.2%.The Labor Department reported Friday that nonfarm payrolls , the highest since August 2020, while the unemployment rate fell to 6%. Economists surveyed by Dow Jones were expecting an increase of 675,000 and a jobless rate of 6%."This reflects the lifting of restrictions, ramp-up in vaccinations and boost provided by...

Apr 4
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Dow ekes out a record closing high as tame inflation soothes investor concerns

Dow ekes out a record closing high as tame inflation soothes investor concerns

Stocks jump at open amid solid earnings resultsThe Dow Jones Industrial Average climbed slightly to a record on Wednesday as investors digested a new batch of corporate earnings as well as data showing subdued inflation.The 30-stock benchmark finished the volatile session 61.97 points higher, or 0.2%, to a record closing high of 31,437.80. At its low of the day, the blue-chip average fell 150 points. The S&P 500 dipped less than 0.1% to 3,909.88, while the Nasdaq Composite slid 0.3% to 13,972.53 as Amazon, Microsoft and Apple all suffered losses. The S&P 500 and the Nasdaq both touched...

Feb 9
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Dow rises more than 300 points to touch a record after tame inflation data

Dow rises more than 300 points to touch a record after tame inflation data

Wall Street points to a higher open following Tuesday's rallyU.S. stocks jumped on Wednesday after a report showed tame inflation, easing worries about rising prices that have jolted yields higher and unnerved equity investors.The Dow Jones Industrial Average last traded up 300 points after jumping 360 points to hit an intraday record high. The S&P 500 added 0.5%, led by energy and cyclicals. The Nasdaq Composite last traded up 0.2% after gaining as much as 1.6% earlier. The tech-heavy benchmark enjoyed a 3.7% rally in the previous session for its best day since November.Data out Wednesday...

Mar 9
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S&P 500 gives up gains and turns negative, high-flying tech gets hit

S&P 500 gives up gains and turns negative, high-flying tech gets hit

Wall Street points to a lower open following Thursday's sell-offThe S&P 500 cut earlier gains on Friday pressured by the sell-off in high-flying tech names, while a stronger-than-expected jobs report helped support sentiment. The broad equity benchmark traded near the flatline after gaining more than 1% earlier. The tech-heavy Nasdaq Composite fell 1.4% in the volatile session. The Dow Jones Industrial Average rose just 80 points after climbing more than 300 points at its session high. The Labor Department on Friday that nonfarm payrolls jumped by 379,000 for the month and the unemployment...

Mar 4
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Dow falls more than 300 points as Powell fails to ease rate fears, Nasdaq goes negative on the year

Dow falls more than 300 points as Powell fails to ease rate fears, Nasdaq goes negative on the year

U.S. stocks fell after Fed Chair Powell said reopening could cause temporary inflation — Here's what investors are watching nowU.S. stocks fell sharply on Thursday after Federal Reserve Chair Jerome Powell failed to reassure investors that the central bank would keep surging bond yields and inflation expectations in check.The S&P 500 closed the wild session down 1.3% to 3,768.47 after dropping 2.5% at its session low. The Dow Jones Industrial Average slid 345.95 points, or 1.1%, to 30,924.14. At one point, the blue-chip benchmark tumbled more than 700 points. The Nasdaq Composite fell 2.1%...

Mar 3
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10-year yield cuts gain after data shows subdued inflation

10-year yield cuts gain after data shows subdued inflation

In this articleThe 10-year U.S. Treasury yield came off its high on Friday as the latest inflation data showed tamed price pressures.The yield on the benchmark last traded up 4 basis points to 1.662%. The rate jumped 6 basis points earlier. The yield on the rose to 2.394%. Yields move inversely to prices.On the inflation front, the core personal consumption expenditure price index, which strips out volatile food and energy prices, rose 0.1% month over month, matching expectations from economists polled by Dow Jones. Year over year, the gauge climbed 1.4%, slightly lower than a 1.5%...

Mar 26
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GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month

GameStop short sellers are still not surrendering despite nearly $20 billion in losses this month

Key PointsThe astronomical rally in has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging.Short-selling hedge funds have suffered a mark-to-market loss of $19.75 billion year to date in the brick-and-mortar video game retailer, including a nearly $8 billion loss on Friday as the stock kept ripping higher, according to data from S3 Partners.Still, short sellers mostly are holding onto their bearish positions or they are being replaced by new hedge funds willing to bet against the stock. GameStop shares that have been borrowed and sold short have...

Jan 29
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Dow tumbles 700 points amid GameStop mania, on pace for worst day since October

Dow tumbles 700 points amid GameStop mania, on pace for worst day since October

IE 11 is not supported. For an optimal experience visit our site on another browser.Jan. 29, 2021, 6:38 PM UTCUpdated Jan. 29, 2021, 6:39 PM UTCBy Yun Li, CNBCStocks fell sharply on Friday as heightened speculative trading by retail investors continued to unnerve the market.The Dow Jones Industrial Average lost 720 points, or 2.4 percent, to fall below the 30,000 mark. The 30-stock benchmark is on track to post its worst day since October. The S&P 500 fell 2.4 percent and the Nasdaq Composite slid 2.6 percent as Apple dropped 4.7 percent and other major tech names slipped.Shares of GameStop...

Jan 29
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Dow closes more than 300 points lower following reports of Biden eyeing capital gains tax hike

Dow closes more than 300 points lower following reports of Biden eyeing capital gains tax hike

Wall Street set for a flat open after Wednesday's gainsU.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich.The Dow Jones Industrial Average dropped 321.41 points, or 1%, to 33,815.90. At its low of the day, the blue-chip benchmark fell 420 points. The S&P 500 erased earlier gains and closed 0.9% lower at 4,134.98, while the Nasdaq Composite slid 0.9% to 13,818.41.Bloomberg News reported Thursday afternoon that Biden is planning a capital gains tax hike to as high as 43.4% for...

Apr 21
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